Bailout

Harry Wilson, a member of President Barack Obama's auto task force that restructured GM and Chrysler, intends to nominate himself for a seat on the board of GM and propose an $8 billion stock buyback, setting off a new debate over how to manage and allocate the company's financial resources....Read More »

Ontario’s government sold its last remaining General Motors shares acquired during the automaker’s 2009 bailout, saying it would invest the $875 million of proceeds in an infrastructure fund....Read More »

A 2008 paperwork error in a loan agreement with General Motors, before the automaker went into Chapter 11 bankruptcy, will cost JPMorgan Chase $1.5 billion, a federal appeals court ruled today....Read More »

The Treasury’s role in shielding General Motors from car lawsuits after a 2009 bailout of the automaker isn’t confidential and should be made public, the Center for Auto Safety told a federal judge....Read More »

In his penultimate State of the Union address, President Barack Obama vowed to seek congressional authority to negotiate big ticket trade deals with European and Asian nations that could have significant implications for the auto industry, but have been stalled....Read More »

One Las Vegas dealership and three former Detroit area dealerships -- Livonia Chrysler Jeep, Fox Hills Chrysler Jeep and Village Chrysler Jeep -- could get a chance to reopen more than five years after a Chrysler Group LLC decision to close them, according to a federal appeals court ruling....Read More »

President Barack Obama, on a trip to unveil elements of his State of the Union address, took a victory lap in Michigan on Wednesday to tout his support of the auto industry, but concerns about trade policies hung in the background of his tour....Read More »

American taxpayers lost $9.3 billion on the government's bailout of auto companies following the Treasury Department's sale of its remaining stake in Ally Financial. The Treasury took in $70.4 billion from the rescue of GM, Chrysler, Ally and others after spending nearly $80 billion in taxpayer funds, data released Monday show....Read More »

Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it....Read More »

The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....Read More »

Canada had limited information about the restructuring plans of GM and Chrysler Group when the government approved a $12.1 billion bailout for the automakers in 2009, federal auditors said....Read More »

The New York bankruptcy judge overseeing part of the fallout from General Motors' problems with faulty ignition switches will retire from the bench, but remain active in so-called recall status for at least a year, his court announced....Read More »

The Treasury Department says confidential information it received during the GM bailout should stay secret, otherwise at-risk companies needing government help in the future might not be willing to share data....Read More »

General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices....Read More »

General Motors customers who sued the automaker over fallen car prices might have a stronger case if they could prove the company defrauded the court when testifying during its 2009 bankruptcy, a judge said....Read More »

Fiat Chrysler CEO Sergio Marchionne says he will use the “human-interest” angle of Chrysler's rebound from bankruptcy to help Fiat Chrysler appeal to U.S. investors ahead of a listing there later this year....Read More »

Fiat Chrysler CEO Sergio Marchionne said he's pulling out all the stops to build investor interest ahead of a listing in the United States later this year following the completion of Fiat's merger with Chrysler....Read More »

Steven Rattner, the former auto czar who led the government bailouts of General Motors and Chrysler, says he witnessed GM's problematic management culture firsthand and was shocked -- and crash victim advocates are asking why he didn't act....Read More »

GM wants to return to a New York courtroom to fight at least 90 ignition-switch defect lawsuits while some car owners are driving for the cases to be heard by a California judge seasoned in auto litigation....Read More »

There is a fundamental difference today between Chrysler and GM because of what did and did not happen during their gut-wrenching bankruptcy crises five years ago. Chrysler came close enough to death in its bankruptcy to dramatically alter its culture, while GM never stopped believing it was too big to fail....Read More »

Leaders of the White House task force that orchestrated the government bailout of General Motors and Chrysler in 2009 said today that they knew nothing about GM's defective ignition switch at the time from talking to the top executives involved in crafting the company's turnaround plan....Read More »

A federal bankruptcy judge today urged settlement talks in a dispute between General Motors and plaintiffs seeking compensation for the lost value of their cars stemming from a massive recall over a faulty ignition switch....Read More »

The U.S. government says it lost $11.2 billion on its bailout of GM, more than the $10.3 billion the Treasury Department estimated when it sold its remaining shares in the company in December....Read More »